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NZDUSD Classic Technical Report 09.03.2012

NZDUSD Classic Technical Report 09.03.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing support at 0.7983, the 23.6% Fibonacci expansion. A break lower initially exposes the 38.2% level at 0.7834. Near-term resistance lines up at the bottom of a recently broken Rising Wedge formation bottom, now at 0.8081. A punch above that targets long-standing falling trend line resistance set from the August 1 high (0.8148).

NZDUSD_Classic_Technical_Report_09.03.2012_body_Picture_5.png, NZDUSD Classic Technical Report 09.03.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.